Rental Questions and Input needed

[Alfredo O.]

I am happy to say that we have purchased our first rental property. After rehabbing now nine houses this year, we feel that we need to upgrade our business strategy as we move forward. We are not looking to move away from rehabbing but I do see a great opportunity in buying properties in renting. I am at a lost as it relates to purchasing rental property and refinancing in order to get your cash back out so you could start the process once again. Any input regarding this topic would be great. I guess part of my issue is the 75% LTV issue as a relates to the properties overall value. Meaning if I don't buy the property at a heck of a discount then getting my money back out of the property after purchasing the property is extremely difficult to do.

 Here are my numbers so please provide input as you see fit. 

Purchase property for 100k

Value 130k

Renting for 1400 both sides 

Put 30k down 

Now trying to refi as we speak so I can buy another property. 

What am I missing?